For many businesses in California, moving to Texas has become a no-brainer. From Tyler durden at zerohedge.com:
Around 700,000 people left California last year, with more than 10% moving to Texas.
According to a new report by Yardi Systems, over 86,000 people abandoned the Golden State. In terms new Texas residents overall, ex-Californians constituted around 15%, according to the Dallas Morning News.
The influx of Californians should come as no surprise, as businesses have been migrating out of the high-tax, high-crime, heavily regulated statefor cheaper pastures.
Chairman and founder Charles Schwab noted that one of the drivers behind the move from California was that “the costs of doing business here are so much higher than some other place.”